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Falling economy has bottomed out, says BOT


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International restrictions haven't changed, as far as I can see. Let me predict a world of financial hurt this Autumn as people 1) discover their jobs are gone for good. 2) business sur

Genius. 

Sometime you get the feelings that the BOT and other government agencies are just release statements that doesn't really say much or state the obvious just so they can justify their existence and high

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55 minutes ago, Isaan sailor said:

They made too many deals with the Devil.  Down goes the economy, unfortunately.

The real Devils are running the country !

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15 hours ago, BritManToo said:

International restrictions haven't changed, as far as I can see.

Let me predict a world of financial hurt this Autumn as people

1) discover their jobs are gone for good.

2) business surviving on loans and savings run out of money.

3) mass mortgage defaults start to happen, and people can't pay their rent.

4) mass defaults on personal/car loans.

 

Not just in Thailand, but all over the world.

 

In Thailand

Bank shares have reportedly fallen 6% in the last week.

Most banks expected up to 40 per cent non-performing loans (NPL).

Exports are down 25%

Tourism has effectively been wiped out.

And that's just the good news. 

 

The impending reality is considerably worse.

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8 hours ago, Mac98 said:

   How about a 60,000,000,000 baht boost to the economy that costs the government nothing? Change one rule: delete the 800,000/400,000 baht requirement for retiree extensions. 

   All that money now locked up could flow into the economy, from cars to bars, maybe help with a condo purchase here and there.

   The requirements could be re-instated at any time, but those who retired or extended under the exemption would be grandfathered in for life. 

  It is estimated there are currently 100,000 expat retirees in Thailand.

That makes sense - which is why it won't happen.

 

Making life easier for farangs in Thailand ain't gonna happen, too much loss of face. 

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19 hours ago, torturedsole said:

The bottom is a long way from being realised just yet.  Gonna be like an asteroid hit on a global scale.  

I agree.  The bottom has not been reached.  Thai's, and Thailand, are treading water at the moment, but the Thai economy is fast losing energy and will eventually start to sink.  

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  • 2 weeks later...

The government’s National Economic Social Development Council (NESDC) will announce next week its second quarter gross domestic product (GDP) estimate, a year-on-year contraction analysts say is likely to exceed 12%

 

Asia Times: Thailand’s Covid success turns economic failure.
https://asiatimes.com/2020/08/thailands-covid-success-turns-economic-failure/

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8 hours ago, ExpatOilWorker said:

The government’s National Economic Social Development Council (NESDC) will announce next week its second quarter gross domestic product (GDP) estimate, a year-on-year contraction analysts say is likely to exceed 12%

 

Asia Times: Thailand’s Covid success turns economic failure.
https://asiatimes.com/2020/08/thailands-covid-success-turns-economic-failure/

What’s your best guesstimate on 2020 vs 2019?  You seem to have some of the most realistic posts as to what the final shakeout will be.  I wouldn’t be surprised to see 20%+

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On 8/17/2020 at 4:25 PM, Airalee said:

What’s your best guesstimate on 2020 vs 2019?  You seem to have some of the most realistic posts as to what the final shakeout will be.  I wouldn’t be surprised to see 20%+

Towards the end of 2020, there will be carnage in Thailand.  

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9 minutes ago, Leaver said:

Towards the end of 2020, there will be carnage in Thailand.  

Should I load up on sardines and bottled water?  My King Oscars say they’re good until 2022.

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